ADA Whales Dump Heavy Bags While Analysts Predict a Fresh Impulse - Blockonomi

TLDR:

• ADA whales sold around $350M in a single move, sending Cardano’s price down nearly 9% in 24 hours.
• Cardano dropped 24% this week, with $1.9B in daily volume showing traders remain active despite pressure.
• Technical traders like Matthew Dixon see a completed 5-wave impulse, hinting a new bullish leg may form.
• The recent whale sell-off has divided traders between long-term believers and short-term profit takers.
  

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The Cardano market has taken a hard hit. Large holders offloaded roughly $350 million worth of ADA, shaking investor confidence and stirring fresh debate across crypto circles. 

Prices slipped, traders panicked, and social media lit up with speculation about what comes next. While some investors see fear, others call this the calm before another run. The sell-off has become the latest flashpoint in Cardano’s volatile October streak.

Whale Dump Sends ADA Price Lower

According to data from CoinGecko, Cardano is trading at $0.616, marking an 8.98% drop in 24 hours and a 24.46% decline over seven days. 

The move came after heavy whale activity that, as user Jack (@WispOfDeFi) pointed out, “dumped 350M ADA” in a short span. The event sparked panic among retail traders, many of whom rushed to exit their positions.

Despite the drawdown, the trading volume surged to nearly $2 billion, reflecting that liquidity and participation remain strong. The price dip has also revived talk of accumulation zones, with some traders suggesting this could form a base for the next rally. 

Cardano’s pattern of deep retracements followed by quick rebounds has kept both believers and skeptics watching closely.

Market chatter suggests that while weak hands are shaken out, larger players may be positioning for the next phase. In previous cycles, similar dumps often preceded strong reversals once selling pressure eased. 

For now, the market’s direction depends on whether confidence can recover fast enough to stabilize short-term sentiment.

Analysts Expect a New Impulse in Cardano’s Price

Veteran trader Matthew Dixon (@mdtrade) described the recent drop as part of a larger technical structure. He said ADA completed a “five-wave up” impulse, with the final leg showing fading momentum. 

Dixon added that the corrective phase now unfolding could soon give way to a renewed push higher. His outlook paints the current move as a healthy reset rather than a long-term breakdown.

The fifth wave’s bearish divergence, paired with strong Fibonacci alignment, supports his view of a completed structure. If the next impulse follows, it could start forming once the choppy correction ends. 

Traders watching this pattern expect a decisive breakout that confirms ADA’s next direction.

Despite short-term volatility, Cardano’s broader structure remains intact according to several technical observers. They argue that momentum fades before major reversals and that the current setup mirrors past recoveries. 

Whether the next wave arrives soon or stalls depends on how deep this correction runs.

The wider crypto market has mirrored ADA’s instability this week, but Cardano’s steep decline stands out for its scale and speed. That’s keeping attention fixed on whether the blockchain’s investors will treat this as an opportunity or a warning.